Generation adequacy is a concern in today's electricity market where intermittent renewable energy sources are rapidly becoming a greater share of the generation mix. This study focuses on the Nordic and Baltic power system that is comprised of the system areas of the Nord Pool spot market. Sequential Monte Carlo Simulation is applied to assess the generation adequacy of this multi-area system for several future case studies, based on scenarios defined within the Nordic Flex4RES project. The report gives insights into the characteristics of these adequacy problems that the system could face in a more sustainable future, quantifies their magnitude and presents their characteristics. Finally, a solution based on the demand flexibility of residential electric heating is discussed, as a way to counter capacity deficit problems.